Illinois Tool Works Inc. (NYSE:ITW) Holdings Reduced by Pillar Pacific Capital Management LLC

Pillar Pacific Capital Management LLC decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,791 shares of the industrial products company’s stock after selling 308 shares during the quarter. Pillar Pacific Capital Management LLC’s holdings in Illinois Tool Works were worth $7,322,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ITW. Independence Bank of Kentucky lifted its position in Illinois Tool Works by 7.6% in the fourth quarter. Independence Bank of Kentucky now owns 8,115 shares of the industrial products company’s stock valued at $1,028,000 after buying an additional 575 shares during the last quarter. SJA Financial Advisory LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $207,000. Quantamental Technologies LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $613,000. Norris Perne & French LLP MI lifted its position in shares of Illinois Tool Works by 3,243.9% during the fourth quarter. Norris Perne & French LLP MI now owns 72,629 shares of the industrial products company’s stock worth $9,201,000 after purchasing an additional 70,457 shares in the last quarter. Finally, McGuire Investment Group LLC lifted its position in shares of Illinois Tool Works by 0.5% during the fourth quarter. McGuire Investment Group LLC now owns 31,640 shares of the industrial products company’s stock worth $4,009,000 after purchasing an additional 164 shares in the last quarter. 79.42% of the stock is owned by institutional investors and hedge funds.

Shares of ITW opened at $139.82 on Thursday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.26 and a current ratio of 1.63. The company has a market cap of $46.35 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.21 and a beta of 1.19. Illinois Tool Works Inc. has a 12-month low of $117.75 and a 12-month high of $171.83.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, February 1st. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.01. Illinois Tool Works had a net margin of 17.35% and a return on equity of 69.48%. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period last year, the firm posted $1.70 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Analysts anticipate that Illinois Tool Works Inc. will post 7.97 earnings per share for the current year.

In related news, CEO Ernest Scott Santi sold 108,885 shares of the stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $133.19, for a total transaction of $14,502,393.15. Following the completion of the sale, the chief executive officer now directly owns 149,777 shares of the company’s stock, valued at $19,948,798.63. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John R. Hartnett sold 14,500 shares of the stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $137.00, for a total value of $1,986,500.00. Following the sale, the executive vice president now directly owns 29,448 shares of the company’s stock, valued at $4,034,376. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 200,772 shares of company stock valued at $26,864,670. Corporate insiders own 0.82% of the company’s stock.

Several brokerages have recently issued reports on ITW. Wells Fargo & Co restated a “buy” rating and set a $150.00 target price (down from $160.00) on shares of Illinois Tool Works in a research note on Wednesday, October 17th. Citigroup lowered shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $144.00 target price on the stock. in a research note on Monday, January 14th. ValuEngine upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Tuesday, November 13th. Deutsche Bank set a $133.00 price target on shares of Illinois Tool Works and gave the company a “hold” rating in a research note on Monday, December 10th. Finally, Morgan Stanley set a $131.00 price target on shares of Illinois Tool Works and gave the company a “hold” rating in a research note on Thursday, October 25th. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $137.93.

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Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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